Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (20193)	6/24/2002 10:07:47 PM
From: Muthusamy SELVARAJU	Read Replies (5) of 74559

Some contrarian thoughts, esp after today's mysterious stock market rise and gold's decline.... a) Since loss in value of paper currencies could undermine the entire economic structure of substantially all of the world (since there is no longer an East Bloc), I wonder if the the powers of the G8 countries could get together to block any uncontrolled rise in the price of gold, say to usd 330 and beyond. Originating from Malaysia, I am reminded by how the US, in the '70s and '80s used its strategic stockpile reserves to very effectively and relatively quickly depress the price of natural rubber and tin which effectively ended the economic value of these products (ie substitutes like synthetic rubber and plastics were marketed). Since gold is held by several G8 central banks, could they not get together with the US and do something together to get the price back down to usd 300 or below, esp since retail demand for gold is in fact decreasing. b) As for currencies, I worry that the fundamentals in Europe right now can barely support the Euro at 0.97 and whether a sustained rise to say, parity and beyond is going to stick. Selva

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